AvWorks Aviation Corp. (OTCQB: SPLI) stock volume continued to soar Mar. 10, with 17,649,140 shares changing hands, nearly double its three-month average of 10,047,115 shares.
In addition, SPLI’s share price closed at 19 cents, up 6 cents, or 44.21%, from its closing price of 13 cents the previous day.
Changes in Merger Agreement
The surge in volume and share price was sparked in part by a Mar. 7 announcement by the Sunrise, Fla.-based company that it had made some changes in its merger agreement that would keep its stock from being diluted.
“These actions are meant to signal to the market that we will increase our market cap over time -- not by the issuance of more and more shares held by only a few -- but by increasing the value of each individual share of stock,” Vapor Group’s CEO Dror Svorai said, in a written statement. “Vapor Group is a proven, rapidly growing, dynamic company that we believe will drive up the value of its market cap through solid performance. We are committed to proving that to everyone,” he added.
In a Feb. 26 letter to shareholders Svorai outlined the changes brought about by its recent merger and transformation from an aviation parts company into an e-cigarette company.
Letter to Shareholders
Here’s an excerpt:
“This past month has been very eventful for us, and we have great expectations for the year.
First, as you know, Vapor Group, Inc. merged into AvWorks Aviation Corp., bringing to the Company a change of management, significant additional revenue, and a new business model focused on a rapidly growing industry. As a result of the merger, effective January 22, we promptly filed for a corporate name change to "Vapor Group, Inc." in the State of Florida and in parallel filed for a trading symbol change and name change with the OTC stock exchange. We anticipate that the OTC market name and symbol change will occur very soon. Also, as you know, we filed for a reverse split of our common stock. We expect this reverse split to occur near the end of the first quarter, but not before.
Second, as a fully-reporting company under the Securities Exchange Act, we approved a plan to commit any and all necessary resources to making sure that all ongoing financial reports and material events are disclosed and reported to the SEC and our shareholders on a timely basis. Furthermore, we will have our accounting team and new auditor, Terry L. Johnson, CPA, Clearwater, Florida, who is registered with the Public Company Accounting Oversight Board, review all financial reports filed in the last two years under prior management in order to assure our shareholders that such filings were made accurately and thoroughly.
Third, we plan to increase shareholder value through accelerated growth in revenues driven by a broadened and deepened marketing and distribution footprint, and consumer and trade brand acceptance of our products. To that end, we are undertaking several initiatives.
Currently we are negotiating the acquisition of a company whose product line and key market segment supplement, rather than compete, with our own. We believe this acquisition will proof strategically and economically valuable since it will position us in a segment of our market that we currently don't serve with a different type of e-cigarette product. Completion of this acquisition will result in an immediate incremental revenue gain.”
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To Pay Special Dividend
In other news, Bio-Matrix Scientific Group Inc. (OTCQB: BMSN) share volume skyrocketed Mar. 10, with 181,044,617 shares changing hands, nearly four times its three-month average volume of 51,702,993 shares.
The surge in stock volume comes on the heels of a Mar. 7 announcement from the San Diego-based biopharmaceutical company will pay a special dividend consisting of a pro rata share of 20,000,000 Regen BioPharma common shares.
Special Dividend to be Paid
All shareholders of record as of the record date shall receive the Special Dividend. It is anticipated that shareholders of record shall receive one share of Regen Biopharma Inc. for every 147 shares of BMSN. The 147 may consist of common, any series of preferred, or any combination thereof.
Payment of the Special Dividend is contingent on effectiveness of a registration statement filed with the United States Securities and Exchange Commission registering the shares to be distributed under the Securities Act of 1933 as well as completion of review and processing of the notification of the Special Dividend provided by BMSN to the Financial Industry Regulatory Authority (FINRA) pursuant to federal law.
BMSN’s share price closed at 0.0076 cents, up 0.0002 cents, or 2.7%, from its closing price of 0.0074 cents the previous day.
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Enters Legal Marijuana Business
Meanwhile, Lexaria Corp. (OTCQB: LXRP) stock volume went through the roof Mar. 10, with 1,366,540 shares changing hands nearly three times its average three-month average of 520,431 shares.
The surge in volume is being sparked by the Vancouver, BC-based developmental stage company’s Mar. 5 announcement that it was entering the legal marijuana business.
Here is an excerpt from its press release:
"[Lexaria Corp] decided to make a strategic entry into the medical marihuana business by way of an important Joint Venture with Enertopia Corp. (CSE: TOP) (OTCQB: ENRT)Robert McAllister, CEO and Chair of Enertopia Corp, has also agreed to join the Advisory Board of Lexaria Corp, in order to evaluate and negotiate marijuana acquisitions and joint ventures.
Under the terms of the Agreement, Lexaria Corp has agreed to pay Enertopia 1 million restricted common shares in return for Enertopia's participation. Lexaria has also agreed to pay 500,000 restricted common shares to Mr. McAllister in return for his participation on the Lexaria Advisory Board. Following the issuance of these shares, Lexaria will have a total of 18,431,452 shares issued and outstanding and 21,256,452 shares fully diluted."
LXRP’s share price closed at 60 cents, up 8 cents, or 15.38%, from its closing price of 52 cents the previous day.
Find out what could be the best investor’s move when it comes to LXRP by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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